Banksy sells for big money at Art Miami on Miami Beach — just the boost we all need | Editorial

Art Basel and Art Week are often the scene of the sale of outlandishly expensive abstract art that makes novices — meaning most of us — exclaim, “Who would pay that much money for that!”

In 2019, we saw a banana taped to the wall sell for $120,000 at Art Basel. This week, there is a coffee cup on offer for $1,000 at an art pop-up.

But here’s the real deal. On Tuesday, a coveted Banksy piece sold for a whopping $4 million at Art Miami.

The sale made international news and was just what Art Basel needs as it kicks off Thursday after a year of its COVID-19 hiatus.

The multimillion-dollar deal was sealed during the VIP Preview of Art Miami, when a private collector bought “Charlie Brown” (2010) from the London-based Maddox Gallery, which has a prime spot at the show.

The sale exemplifies, if just in dollars, the importance of the return of the physical art fair for all galleries, Jay Rutland, creative director for Maddox Gallery, told the Editorial Board.

So how significant is Charlie Brown (2010) to a Banksy collector?

“ ‘Charlie Brown’ . . . is a precursor to a now-lost mural, “Charlie Brown Fire Starter,” that materialized in Los Angeles in 2011. It’s the only surviving artwork by Banksy on this subject matter, “ Rutland said.

Here’s where Miami-Dade will benefit. The purchase will likely serve as an inspiration for collectors seeking a similar deal.

“The sale of Banksy’s “Charlie Brown (2010)” cements Miami Art Week’s place as a key date in the contemporary art calendar. An acquisition of this scale will always create a buzz that benefits the whole art fair,” Rutland said.

That’s great news for all art dealers this week, including local ones.

For those who ignore art, Banksy is a famous, but anonymous, British graffiti artist. He produces pieces of work that pop up in public places, such as on the walls of buildings. A lot of his art is done in a particular style that people easily recognize.

“Charlie Brown (2010)” was produced at the beginning of Banksy’s meteoric rise. The spray paint and emulsion work “is completely unique” and acts as a precursor to the street artist’s infamous mural that materialized in Los Angeles. Because, as Rutland said, it’s tthe only surviving artwork by Banksy on this subject matter, this makes it an incredibly significant work.

As in, $4 mil in significance.

This story was originally published December 1, 2021 at 4:16 PM.